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Scott Hodge on the Debt Ceiling, Deficit Spending and Federal Taxes

July 12, 2011

Tax Foundation President Scott Hodge discusses the current negotiations between Congress and the White House over the debt ceiling and the federal budget process. He also answers caller questions on the burden of the federal income tax and whether U.S. corporations and high-income households are paying their "fair share" of taxes.

Some of the most substantial deductions in the federal tax code are the itemized deductions for state and local income, sales, and real estate taxes. This map shows the variation, by county, in the amounts of...